Nuvalent, Inc. (NASDAQ:NUVL – Get Free Report) CEO James Richard Porter sold 27,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total transaction of $2,761,560.00. Following the sale, the chief executive officer now directly owns 188,113 shares in the company, valued at $19,240,197.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Nuvalent Price Performance
Shares of NASDAQ NUVL traded down $2.65 during midday trading on Thursday, reaching $102.16. 184,115 shares of the stock were exchanged, compared to its average volume of 433,850. The business has a 50-day simple moving average of $91.10 and a two-hundred day simple moving average of $79.24. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of -43.49 and a beta of 1.29. Nuvalent, Inc. has a 12 month low of $49.02 and a 12 month high of $113.51.
Nuvalent (NASDAQ:NUVL – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period last year, the business posted ($0.51) EPS. Equities research analysts expect that Nuvalent, Inc. will post -3.52 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Nuvalent
Wall Street Analyst Weigh In
Several analysts have recently commented on NUVL shares. Guggenheim increased their price target on shares of Nuvalent from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wedbush raised their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. BMO Capital Markets raised their price objective on shares of Nuvalent from $102.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nuvalent from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.78.
Check Out Our Latest Research Report on NUVL
Nuvalent Company Profile
Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.
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